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The Board of Directors approved today the extension of First Philippine
Holdings Corporation’s (“FPH”) common shares buy-back program from July
2016 to July 2018 for up to P6.0 Billion. The original program was
approved by the Board on July 8, 2010 and has been extended twice
previously, for two (2) years in July 2012 and for another two years in
July 2014.
Why would company buyback its own shares? Investopedia has some answers.
http://www.investopedia.com/ask/answers/042015/why-would-company-buyback-its-own-shares.asp
I say its good news.
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